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Friday 6 November 2026
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Limbach Holdings, Inc.
LMB Industrials Building Products & Equipment
Limbach Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $646.8 million, up 24.7% from fiscal 2024.
- Revenue
- +24.9%
- EPS
- +4.59%
- Free cash flow
- +50.5%
- Total debt
- +150.7%
Quarter to September 2026, against a year earlier
55.24
0.74
+1.36%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
5 | 5 | 7 | 5 | 5 | 8 | 4 | 3 | 3 | — |
P/E ratio |
23.03 | 31.22 | 22.77 | 16.88 | 14.29 | 16.59 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z-Score |
5.60 | 5.22 | 4.04 | 2.47 | 2.60 | 2.87 | 2.42 | 2.31 | 2.90 | 2.68 |
P/S ratio |
1.39 | 1.85 | 0.92 | 0.23 | 0.18 | 0.17 | 0.05 | 0.05 | 0.21 | 0.19 |
P/FCF ratio |
20.59 | 31.23 | 8.53 | 3.28 | 0.00 | 2.52 | 0.00 | 1.29 | 0.00 | 24.46 |
Altman Z″-Score (non-manufacturers) |
3.87 | 3.41 | 3.21 | 2.37 | 2.45 | 1.89 | 1.28 | 0.75 | 1.41 | 1.32 |
Beneish M-Score |
(2.23) | (2.30) | (3.18) | (2.73) | (1.84) | (3.31) | (2.57) | (2.84) | (2.39) | 220.23 |
P/Operating CF |
32.04 | 49.86 | 34.05 | 9.23 | (12.09) | 21.15 | 1.74 | 1.20 | 81.10 | 4.56 |
P/B ratio |
4.61 | 6.27 | 3.92 | 1.20 | 1.03 | 1.80 | 0.62 | 0.60 | 2.15 | 1.78 |
Price to Tangible BV |
11.88 | 12.14 | 5.95 | 1.66 | 1.51 | 2.70 | 1.02 | 1.21 | 4.41 | 4.41 |
EV/Sales |
1.43 | 1.82 | 0.84 | 0.22 | 0.24 | 0.17 | 0.12 | 0.10 | 0.27 | 0.23 |
EV/EBITDA |
13.68 | 18.67 | 11.59 | 5.38 | 5.70 | 3.84 | 4.05 | 7.42 | 8.46 | 8.61 |
EV/Operating CF |
20.25 | 25.65 | 7.60 | 3.09 | (4.75) | 2.46 | (68.90) | 2.09 | (31.90) | 21.64 |
EV/FCF |
21.14 | 30.64 | 7.85 | 3.14 | (4.69) | 2.54 | (18.65) | 2.44 | (17.77) | 29.81 |
Quick Ratio |
1.07 | 1.09 | 1.09 | 1.01 | 0.80 | 0.85 | 0.72 | 0.75 | 0.96 | 0.96 |
Current Ratio |
1.44 | 1.46 | 1.50 | 1.42 | 1.49 | 1.33 | 1.25 | 1.13 | 1.23 | 1.22 |
Net Debt/EBITDA |
0.36 | (0.36) | (1.00) | (0.25) | 1.24 | 0.03 | 2.21 | 3.51 | 1.71 | 1.55 |
Debt/Assets |
9.33% | 7.63% | 7.33% | 10.56% | 14.84% | 16.42% | 16.55% | 10.55% | 12.63% | 12.56% |
Debt/Equity |
0.18 | 0.18 | 0.18 | 0.33 | 0.45 | 0.80 | 0.92 | 0.58 | 0.48 | 0.45 |
Asset Turnover |
1.76 | 1.58 | 1.72 | 1.77 | 1.85 | 2.17 | 2.15 | 2.34 | 2.31 | 2.68 |
Operating CF/Net income |
1.17 | 1.19 | 2.76 | 5.20 | (3.61) | 6.86 | 0.52 | (6.41) | 4.31 | 3.28 |
Capex/Depreciation |
(0.11) | (0.50) | (0.22) | (0.06) | (0.05) | (0.16) | (0.32) | (0.61) | (0.35) | (0.17) |
Interest Coverage |
15.78 | 20.67 | 14.31 | 5.60 | 5.45 | 1.99 | 1.28 | — | — | — |
| 22.38% | 22.50% | 19.18% | 7.42% | 9.49% | 11.54% | (3.81%) | (8.36%) | (1.97%) | 5.20% | |
| 10.65% | 9.40% | 6.93% | 2.42% | 2.54% | 2.22% | (0.69%) | (1.69%) | (0.45%) | 0.87% | |
ROIC |
14.06% | 17.83% | 21.96% | 8.30% | 7.74% | 19.67% | 6.17% | 0.94% | 4.57% | 3.37% |
Return on Tangible Assets |
37.83% | 31.05% | 22.39% | 7.99% | 7.92% | 8.44% | (2.97%) | (9.11%) | (1.94%) | 3.08% |
Average Days of Receivables |
75.17 | 84.19 | 69.10 | 91.50 | 66.58 | 55.09 | 69.31 | 90.62 | 97.19 | 93.07 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
16.93% | 18.74% | 16.93% | 15.68% | 14.57% | 11.19% | 11.42% | 10.45% | 11.53% | 10.84% |
Intangible Assets out of Total Assets |
0.31 | 0.21 | 0.14 | 0.09 | 0.11 | 0.07 | 0.07 | 0.09 | 0.12 | 0.14 |
Share Based Compensation of Revenue |
1.08% | 1.11% | 0.95% | 0.55% | 0.53% | 0.19% | 0.32% | 0.40% | 0.34% | 0.30% |
Graham Net Nets |
0.01 | 0.02 | 0.07 | 0.24 | 0.15 | (0.09) | (0.67) | (0.08) | 0.09 | 0.07 |
Graham Number |
35.85 | 29.01 | 22.08 | 11.57 | 11.15 | 10.69 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
4.34% | 3.20% | 4.39% | 5.93% | 7.00% | 6.03% | (7.32%) | (14.40%) | (0.87%) | (2.95%) |
Free Cash Flow Yield |
4.86% | 3.20% | 11.73% | 30.50% | (27.25%) | 39.69% | (11.81%) | 77.77% | (7.05%) | 4.09% |
Revenue per Share |
55.88 | 46.14 | 47.93 | 47.65 | 48.97 | 72.24 | 72.21 | 72.27 | 65.01 | 74.01 |
Operating CF per Share |
3.95 | 3.27 | 5.32 | 3.39 | (2.42) | 5.06 | (0.12) | 3.35 | (0.54) | 0.79 |
Capex per Share |
(0.17) | (0.53) | (0.17) | (0.05) | (0.03) | (0.17) | (0.33) | (0.49) | (0.43) | (0.22) |
Free Cash Flow per Share |
3.78 | 2.74 | 5.15 | 3.35 | (2.45) | 4.89 | (0.45) | 2.86 | (0.98) | 0.57 |
Cash per Share |
0.99 | 4.00 | 5.56 | 3.46 | 1.46 | 5.37 | 1.10 | 0.23 | 0.10 | 1.24 |
Shareholders Equity per Share |
16.90 | 13.65 | 11.22 | 9.16 | 8.77 | 6.83 | 6.12 | 6.13 | 7.51 | 9.57 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
16.90 | 13.65 | 11.22 | 9.16 | 8.77 | 6.83 | 6.12 | 6.13 | 7.51 | 9.57 |
Free Cash Flow |
43.77 | 30.80 | 55.54 | 34.88 | (24.56) | 38.49 | (3.42) | 21.64 | (7.30) | 3.45 |
Working Capital |
59.96 | 69.30 | 71.85 | 66.91 | 63.16 | 49.12 | 38.51 | 22.85 | 30.78 | 28.45 |
Capital Expenditures |
(1.93) | (5.99) | (1.83) | (0.49) | (0.32) | (1.32) | (2.49) | (3.68) | (3.23) | (1.30) |
Net Current Asset Value |
9.58 | 21.70 | 33.48 | 26.88 | 13.23 | (9.01) | (19.37) | (2.28) | 9.36 | 6.13 |
EV/EBIT |
18.71 | 24.43 | 14.89 | 9.10 | 8.24 | 5.70 | 7.91 | 49.40 | 21.54 | 25.00 |
Capex to Sales |
0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 |
Price to Operating Income |
18.22 | 24.90 | 16.17 | 9.52 | 6.44 | 5.65 | 3.59 | 26.01 | 17.19 | 20.51 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.42 | 0.40 | 0.40 | 0.46 | 0.29 | 0.42 | 0.36 | 0.30 | 0.52 | 0.42 |
Cash ROIC |
18.04% | 13.67% | 27.34% | 21.44% | (17.28%) | 27.69% | (3.47%) | 28.91% | (8.71%) | 3.78% |
Accounts Receivable Turnover |
5.12 | 4.77 | 4.65 | 4.64 | 5.60 | 5.96 | 4.60 | 4.12 | 3.99 | 4.49 |
Accounts Payable Turnover |
7.07 | 5.94 | 5.66 | 5.80 | 6.19 | 6.36 | 6.00 | 6.87 | 6.75 | 7.86 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
56.70 | 59.27 | 60.00 | 68.03 | 57.61 | 50.06 | 65.40 | 55.72 | 58.59 | 53.20 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
126.43 | 108.71 | 111.15 | 106.99 | 87.60 | 95.42 | 120.38 | 132.52 | 121.66 | 99.66 |
Average Payables |
67.49 | 63.04 | 70.20 | 69.48 | 65.30 | 76.52 | 80.31 | 70.90 | 62.24 | 49.80 |
Average Assets |
366.63 | 328.28 | 299.50 | 281.03 | 264.83 | 261.89 | 257.63 | 233.33 | 209.95 | 167.10 |
Average Common Equity |
174.58 | 137.20 | 108.18 | 91.64 | 70.79 | 50.30 | 46.62 | 47.26 | 47.80 | 27.83 |
Columns are period end dates · fundamentals updated 5 Nov 2026